Acko is a new age online insurance policy provider with its entire operations offered through the digital platform.
Acko provides innovative products with personalized pricing based on customer behaviour and data analytics.
Acko was founded in Nov 2016 by Varun Dua. The company is headquartered in Bangalore, Karnataka, India.
Acko has developed a differentiated and scalable business model based on a singular customer focus, value-based pricing, highly-rated service and deep technology capabilities.
Acko sells bite-sized insurance products in partnership with other players in the internet ecosystem such as Amazon, Ola, redBus, Zomato and Urban Company. In addition, ACKO covers nearly 1 million gig workers in the country through partnerships with companies, including Zomato and Swiggy.
Acko claims to have over 70 million customers, with the platform clocking approximately $150 million in premiums annually at present. Acko also offers health insurance and electronic device coverage.
Acko is backed by Amazon, Accel, General Atlantic, CPP Investments, Lightspeed, Elevation, SAIF Partners, Munich Re Ventures, Ascent Capital, Catamaran Ventures, and others. The company raised $255M in Series D round on Oct 28, 2021. This brings Acko's total funding to $458M to date. The latest round valued the company at $1.1B post-money.